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First Imrooz Modaraba’s financial results for the year ended 30 June 2011

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by September 21, 2011 Financial Results

Karachi: We have to inform you that the Board of Directors of our Modaraba Management Company in their meeting held on 21 September 2011 at 10:30 a.m., at Room No. 405,4th Floor, Beaumont Plaza, Civil Lines Quarters, Beaumont Road, Karachi recommended the following:

Cash Dividend

A final profit distribution for the year ended 30 June 2011 at Rs. 7.35 per Certificate i.e. 73.5%.

Financial Results

Financial results of the Modaraba are as follows:

 

Rs. in ’000’

2011

2010

Sales   681,364  628,533
Cost of sales  588,809 550,466
 ——-  ——-
Gross profit  92,555 78,067
Operating expenses  29,425  25,521
 ——- ——-
Operating profit 63,130 52,546
Modaraba charges  (5,321)  (1,838)
Workers’ welfare fund  –  (1,072)
Other income  1,805 2,429
(Diminution) / Appreciation on re-measurement of investments  (62)  479
——- ——-
59,552 52,544
Modaraba company’s management fee 5,360 4,204
  ——- ——-
Profit before taxation 54,192  48,340
Taxation 26,619  19,771
 ——-  ——-
Profit for the year   27,573  28,569
Appropriation:
– Transfer to Statutory Reserve  5,515  5,714
——- ——-
Profit after appropriation 22,058 22,855
 ——-  ——-
Earnings per certificate – basic and diluted   Rs.9.19  9.52

 

The Annual Review Meeting of the Modaraba will be held on 20 October 2011 at 11:30 a.m. at 33C, Behind Mall Mansion, Shahrah-e-Quaid-e-Azam, The Mall, Lahore.

The Certificate Transfer Books of the Modaraba will be closed from 13 October 2011 to 20 October 2011 (both days inclusive). Transfers received, at the office of our share Registrar M/s. Progressive Management Services (Pvt.) Ltd, 10th Floor, Mehdi Tower A-115, S.M.C.H.S. Shahrae-e-Faisal, Karachi at the close of business hours on 12 October 2011 will be treated in time for the purpose of above entitlement to the transferees.

The final profit will be paid to the certificate-holders whose names will appear in the Register of Members on 12 October 2011.

 

For more information, contact:
First Imrooz Modaraba
Room No. 405, 4th Floor,
Beaumont Plaza,
Beaumont Road. Civil Lines Quarters,
Karachi – 75530, Pakistan
Tel: (+92-21) 111 IMROOZ, 3522 2743
Fax: (+92-21) 3522 2668
E-mail: inquiries@imrooz.com

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